Look beyond the highest price
Read each offer with your representative.
- Compare deposit terms, conditions, inclusions and timing.
- Check how the dates affect your next purchase or move.
More on look beyond the highest price
Ask your lawyer about terms you do not understand.
Use the same checklist for every offer
Record the full terms before choosing or countering.
- Write down the price and funds required.
- List conditions, deadlines and unresolved questions.
More on use the same checklist for every offer
Read the complete revised agreement before accepting a counteroffer.
The basics
What is actually inside an offer
An offer is a proposed contract. Beyond the price, it sets the deposit, any conditions the buyer needs, deadlines to remove those conditions, the completion date, the possession date and what items are included.
Completion is the day money and legal ownership change hands. Possession is when the buyer gets the keys. Conditions, often called subjects, are promises the buyer must satisfy, such as financing or an inspection, before the deal is firm.
Two offers at the same price can lead to very different results once you read those terms side by side.
Why it matters
Why the details decide the deal
A clean offer with a solid deposit and short subject period may be worth more to you than a higher price with long conditions. If the higher offer collapses, you may be back on the market weeks later.
Buyers also have a legal right to back out early. Most residential sales in BC include a home buyer rescission period. Knowing how it works helps you plan your own next steps. See the BC cooling-off period.
How it works
How to review an offer, line by line
Confirm who you are dealing with
Check whether the buyer has their own agent. If not, BC’s real estate regulator requires your agent to give them a form about the risks of being unrepresented. Ask your agent how that affects the conversation.
Read the price and deposit together
Note how much deposit the buyer will pay and when. A larger deposit paid quickly shows commitment. Ask who will hold it in trust.
List every condition and deadline
Write down each subject and its removal date. Ask what could cause the buyer to walk away and how likely that is.
Check the dates against your move
Compare completion and possession dates with your next purchase, your lease or your mortgage. A mismatch can add costs.
Look for assignment wording
In BC, a contract must include a term prohibiting assignment without the seller’s written consent. If a buyer changes it, a Notice to Seller Regarding Assignment Terms must come with the offer.
Review the commission form
BC’s real estate regulator requires a Disclosure to Sellers of Expected Remuneration showing in dollars what your brokerage and the buyer’s brokerage would be paid. It is recalculated on each counteroffer.
Read the final version in full
Before signing a counteroffer or acceptance, read the entire updated contract, not just the changes. Ask your lawyer or notary about anything unclear.
Avoid these
Offer review mistakes
Comparing on price alone
Subjects, deposit size and dates can matter more than a small price difference. Lay offers side by side on every term.
Missing an assignment request
A buyer who can assign the contract may transfer it to someone else before completion. Read the Notice to Seller form closely and get advice before agreeing.
Assuming the deal is final at acceptance
During the rescission period and before subjects are removed, the deal can still end. Do not firm up your next purchase until you know what your own sale allows.
Agreeing to changes by phone
Only signed written terms count. Make sure every change appears in the contract you sign.
Questions to ask
Questions to ask while reviewing offers
Your agent
- How strong is this buyer’s financing?
- What happens if a subject is not removed on time?
- Which offer is most likely to complete?
- How would you counter this offer, and why?
Your lawyer or notary
- Is anything in the added clauses unusual?
- What happens to the deposit if the buyer rescinds?
- Do the dates work with my mortgage payout and my next purchase?
Yourself
- Which terms matter most to my move?
- What would I do if this deal fell through next week?
- Am I comfortable with every included item?
FAQ
Common questions
Can a buyer back out after I accept their offer?
Yes, in many cases. For eligible residential properties, BC’s real estate regulator says a buyer can rescind within three business days after acceptance by giving written notice and paying a fee of 0.25% of the offer price. Buyers can also end the deal if a subject is not satisfied.
What does subject removal mean?
It is when the buyer confirms in writing that their conditions, such as financing or inspection, are satisfied or waived. After that, the contract is generally firm, subject to the rescission period if it still applies.
Should I accept the highest offer?
Not automatically. Compare deposit, conditions, dates and inclusions. A slightly lower offer with fewer conditions may be more likely to complete.
What is a counteroffer?
It is your written response that changes one or more terms of the buyer’s offer. The buyer can accept, reject or counter again. Read every version in full before signing.
Can a buyer add another person to the contract later?
BC’s real estate regulator says an offer that lets the buyer add buyers after acceptance is treated as an assignment. It must come with the Notice to Seller Regarding Assignment Terms form.
A practical example
Compare terms in the same order
For each proposal, work through price, deposit, timing, conditions and inclusions using a consistent format.
- Record the practical effect on your move and the questions requiring advice.
- Read any revised agreement completely.
This helps you assess the actual commitment instead of relying on a summary that may leave out a material detail.
A detail to keep in mind
A verbal understanding should not be assumed to replace the written terms your professionals are reviewing.
Official information
Start with these resources, then confirm the details for your property and circumstances.
BC’s real estate regulator consumer resourcesBC Financial Services Authority: Consumer guide to disclosuresBC Financial Services Authority: Consumer guide to assignmentsBC Financial Services Authority: Home buyer rescission periodReference review: October 6, 2026